The pond was introduced at the London Metals Exchange, LME, in 1912, was suspended in 1985, because of the strong crisis in the sector, and then can return for good in 1989.
Futures contract-specific features of the pond
Contract: Pond at 99.85% with reference to BS3252: 1986
Lot Size: 5 tonnes (with a tolerance of +/-2)
Margin per Lot: $ 8,010
The Tin is a chemical element in the periodic table that has the symbol Sn and atomic number 50. This silvery metal and malleable, it oxidizes easily in air and resists corrosion is used in many alloys and to coat other metals more vulnerable to corrosion. Tin is obtained chiefly from cassiterite, a mineral that is present in the form of oxide.
Pewter is a malleable metal and ductile silvery white with a crystal structure that results in a characteristic squeal when a bar of Tin is bent (the noise is caused by disruption of crystals): when heated, loses its elasticity and becomes brittle. This metal resists corrosion from distilled sea water and drinking water, but can be attacked by strong acids, alkalis and salts from acid. The pool acts as a catalyst in the presence of dissolved oxygen in the water, which accelerates the chemical attack.
Tin Sn 2 diatomic molecules form when heated in air. This diatomic form is slightly sour and salt form (stannati) if in contact with basic oxides. The pond can be easily polished and used as a protective coating for other metals, in order to protect them from corrosion and chemical agents. It also combines with chlorine and oxygen, and hydrogen from acids in solution.
The pond easily binds with iron and was used in the past for lead, zinc and steel to prevent corrosion.
Containers, cans and tins, in tinplate (tinned steel sheet) are still widely used to preserve foods, a use that covers much of the world market for metallic Tin.
About 35 countries worldwide have tin mining activities, and in virtually every continent there is a major producer of Tin. Metallic Tin is produced by reducing the ore with coal in a reverberatory furnace. The pond is relatively scarce element in the Earth's crust, with a relative abundance of about 2 ppm, compared with 94 ppm for zinc, the 63 ppm for copper, and 12 ppm for lead. Most of the world's Tin deposits are alluvial in nature, and half of them are in Southeast Asia the only important ore from mining point of view is cassiterite (Sno 2), but small quantities of Tin are obtained from complex sulfides such as stannite, cylindrite and tealite
Small quantities of Tin that can be found in canned foods are not harmful to humans.